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Jan 23, 2013
01/13
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when we're spending our time here talking about the deficit stuff and raising the deficit we are simply saying to the world, for the first time america is not going pay its debts. my question to you, mr. johnson is this, if this was such a good idea, why haven't we done it before? we could have saved a lot of money by not paying our debts. why did we suddenly decide this the s the time to do it? give me the understanding so the american people can understand after all of these years under the first world war i voted under president bush, both of them to raise the debt limit. but now we're going to stop paying. please tell me why they're doing this? >> congressman, it's not a good idea and it was not the way policy was run. go back to 1789, after the restructuring of debt which alexander hamilton began fiscal government in this country. it took a long time to convince the world that the u.s. was the safest place to put your reserve assets or your rainy day money. it was a great achievement but now it is being thrown away for what i presume some negotiating purposes which makes no sense.
when we're spending our time here talking about the deficit stuff and raising the deficit we are simply saying to the world, for the first time america is not going pay its debts. my question to you, mr. johnson is this, if this was such a good idea, why haven't we done it before? we could have saved a lot of money by not paying our debts. why did we suddenly decide this the s the time to do it? give me the understanding so the american people can understand after all of these years under the...
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Jan 23, 2013
01/13
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eye 95
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we need a -- $ trillion deficit. we need a -- $1 trillion deficit. we need a serious plan to address the deficit, however, the senate has gone nearly four years without passing an annual budget. taking a year by year approach and addressing only discretionary spending will not solve our long-term spending problem. we must take a comprehensive long-term approach to the federal budget, a comprehensive approach to spending must address the long-term solvency issues on entitlements such as medicare, medicaid and social security. without reform, spending will remain on an unsustainable path while the medicare and social security trust funds are emptied before the majority of americans currently are paying in even qualified to become beneficiaries of those programs. today's legislation will allow us to work with the senate in achieving this long-term deficit solution we know would meet the needs of americans. thank you. i yield back. the speaker pro tempore: the gentleman's time has expired. the gentleman from michigan. mr. levin: i yield one minute to the
we need a -- $ trillion deficit. we need a -- $1 trillion deficit. we need a serious plan to address the deficit, however, the senate has gone nearly four years without passing an annual budget. taking a year by year approach and addressing only discretionary spending will not solve our long-term spending problem. we must take a comprehensive long-term approach to the federal budget, a comprehensive approach to spending must address the long-term solvency issues on entitlements such as...
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Jan 22, 2013
01/13
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we have had trialion dollar deficits every year. nobody would expect to be paid if they didn't do their job. no budget, no pay. if harry reid cannot pass a budget, they are fundamentally moving the responsibility why they should even be in the majority. to me, this is a turning point for this country, getting to the fundamentals of a planning for the future that this could be the mark of a great american comeback. >> good evening. yesterday, the president was inaugurated and he took a similar -- he took an oath of office that is very similar to the one that we take as members of congress, to uphold the constitution and to protect this country. and it starts with getting a budget in place. that is pretty fundamental to governing and the federal government is operating right now with a continuing resolution. and we need a budget in place. we need a senate to pass the budget. it's going on four years since the senate has passed the budget. the senate has said his budget is going to be delayed. america, families understand they need to
we have had trialion dollar deficits every year. nobody would expect to be paid if they didn't do their job. no budget, no pay. if harry reid cannot pass a budget, they are fundamentally moving the responsibility why they should even be in the majority. to me, this is a turning point for this country, getting to the fundamentals of a planning for the future that this could be the mark of a great american comeback. >> good evening. yesterday, the president was inaugurated and he took a...
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Jan 23, 2013
01/13
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it's not about increasing the deficit. the debt limit is simply the way congress pays for things that we have already bought. things like the wars in iraq and afghanistan. by the way, my friends on the other side continue to insist we don't pay for, just goes on our credit card. things like the medicare prescription drug benefit that was not paid for that my friends on the other side of the aisle championed. things that the republicans have voted for over and over and over again. we can and we should have an open and thoughtful debate on our spending priorities and our deficit. that is what we're supposed to do, but playing games with the debt limit, threatening to default should not be an option. but that's just the way -- but that's just what the bill before us does. it once again kicks the can down the road. instead of passing a clean long-term debt ceiling bill, one that could ensure that america doesn't default on its debt and obligations, the republicans have chosen to bring a bill that -- up that would put us right
it's not about increasing the deficit. the debt limit is simply the way congress pays for things that we have already bought. things like the wars in iraq and afghanistan. by the way, my friends on the other side continue to insist we don't pay for, just goes on our credit card. things like the medicare prescription drug benefit that was not paid for that my friends on the other side of the aisle championed. things that the republicans have voted for over and over and over again. we can and we...
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Jan 15, 2013
01/13
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down and would pay down the deficit. guest: i like the point you are making. a very close friend of mind in scranton is a jeep dealer. and he was going to sell a cherokee in beijing, it costs about $100,000 which is outrageous. they add all sorts of import and do the fees and that just will not happen here. we need to rethink some of these trade imbalances. for example, of the note to the big box retailer and you can see the big box retailers and the countries that do not have strict labor laws, workplace safety laws, environmental regulations to protect, in a sensible fashion, the economy. foreign countries can sell them cheaper the in this country and i think that applies to automobiles as well. maybe the way to have these sensible regulations is to have a sensible tax along the line you are talking about. host: we are talking with freshman democrat from pennsylvania, rep cartwright. next caller. caller: the definition of the fault is not being able to pay your bills. -- the definition of default is not being able to p
down and would pay down the deficit. guest: i like the point you are making. a very close friend of mind in scranton is a jeep dealer. and he was going to sell a cherokee in beijing, it costs about $100,000 which is outrageous. they add all sorts of import and do the fees and that just will not happen here. we need to rethink some of these trade imbalances. for example, of the note to the big box retailer and you can see the big box retailers and the countries that do not have strict labor...
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Jan 22, 2013
01/13
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eye 140
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consecutive trillion dollar deficit. america's national debt exceeds $16 trillion. interest on our debt is well in excess of $200 billion per year. to put our debt service in perspective, that more than four times what the federal government spends on all highway and transportation infrastructure projects in america each year. unless washington becomes financially responsible, future debt service will escalate and even more money will be spent on debt service rather than programs that serve americans. america's comptroller general issued a stern warning to president obama, quote, the comprehensive, long-term fiscal protections show that absent policy changes the federal government continues to face an unsustainable path. over the long term, the structural imbalance between spending and revenue will lead to continued growth of debt held by the public as a share of g.d.p. this means the current structure of the federal budget is unsustainable, end quote. america's current path and federal budget is unsustainable. absent ch
consecutive trillion dollar deficit. america's national debt exceeds $16 trillion. interest on our debt is well in excess of $200 billion per year. to put our debt service in perspective, that more than four times what the federal government spends on all highway and transportation infrastructure projects in america each year. unless washington becomes financially responsible, future debt service will escalate and even more money will be spent on debt service rather than programs that serve...
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Jan 22, 2013
01/13
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we must make the hard choices to reduce the cost of health care and reduce the size of our deficits. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] we remember the lessons of our past, years spent in poverty, the parents of a child with a disability had nowhere to turn. we do not believe that freedom is reserved for the lucky or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us, at any time, may face a job loss or a sudden illness, or a home swept away in a terrible storm. the commitments that we make to each other through medicare, medicaid, social security, they do not sapped our initiative, they strengthen us. they do not make us a nation of takers, they free us to take risks to make this country great. host: the top republican in the senate responded to the president's address saying that he congratulated the president on his inauguration and that he wished him well in his duty to lead the u.s. at hom
we must make the hard choices to reduce the cost of health care and reduce the size of our deficits. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] we remember the lessons of our past, years spent in poverty, the parents of a child with a disability had nowhere to turn. we do not believe that freedom is reserved for the lucky or happiness for the few. we recognize...
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Jan 15, 2013
01/13
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eye 160
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carolina has said, a deficit crisis of huge proportions. with an economy that's fighting to recover, and any expenditure must be weighed against all other needs facing our nation. now, i don't take the backseat to anyone when it comes to cutting spending. since i have chaired this committee, the last two years we've cut $100 billion off of discretionary spending. two years in a row going on a third. that's not happened since world war ii. so i know where i speak. in this case, madam chair, the needs are very desperately clear. we must provide this emergency funding as we are allowed by law without the devastating slash and burn cuts elsewhere that this amendment would cause. the amendment before us would splash nearly $20 billion from discretionary spending this year alone, totally indiscriminant, unspecific, cutting the good and the bad, completely abdicating the responsibility of congress to determine where spending should or should not occur. to put this in perspective, this amendment contains a cut to regular discretionary spending that
carolina has said, a deficit crisis of huge proportions. with an economy that's fighting to recover, and any expenditure must be weighed against all other needs facing our nation. now, i don't take the backseat to anyone when it comes to cutting spending. since i have chaired this committee, the last two years we've cut $100 billion off of discretionary spending. two years in a row going on a third. that's not happened since world war ii. so i know where i speak. in this case, madam chair, the...
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Jan 15, 2013
01/13
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eye 126
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this would allow us to keep reducing the deficits. we have a shared value in eliminating waste, fraud, and abuse. we are intent on that. host: how much of the budget does waste, fraud, and abuse make up? guest: i could go back to virginia beach, virginia, and we could identify waste every day. we will never eliminate it entirely. we can do a better job. it will take reforms. we are living longer and we have fewer people paying in. i want to protect those who are hurting the most, like art, who called in earlier. host: lester is a republican. caller: good morning. disability, 63 years old. my wife still works. $45,000 a less taw less than year. somehow someone is going to have to do something about this. guest: i agree completely. i believe it is immoral for one generation to pass on debt that dims their future. those who have served our country -- i am mindful of the price paid by our goldstar families. we're failing the young people. i am with you. i was over it. i believe when americans are given good information, they will make goo
this would allow us to keep reducing the deficits. we have a shared value in eliminating waste, fraud, and abuse. we are intent on that. host: how much of the budget does waste, fraud, and abuse make up? guest: i could go back to virginia beach, virginia, and we could identify waste every day. we will never eliminate it entirely. we can do a better job. it will take reforms. we are living longer and we have fewer people paying in. i want to protect those who are hurting the most, like art, who...
SFGTV2: San Francisco Government Television
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Jan 23, 2013
01/13
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SFGTV2
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eye 56
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i have be asked to testify whether or not psycho paths have affective deficits. absolutely they do. there has been hundreds of years of psychiatric research shows that they do. you have this two prong thing. on the one hand more dangerous if you release them and don't treat them. on the other hand, they're affectively different. there was a very nice article in the "new york times" magazine on mother's day about children who have these emerging traits and how we would develop and understand and treat them. it's a small percentage. my goal is to develop better treatment so they can keep them off that trajectory towards life course persistent problems. >> are you saying that people that have the brain structure that you have identified will always be lacking in volitional control or impulse receive to the extent that they are criminals? do we have a subset of people that are criminals because of their brains? >> i should really differentiate psychopathy from criminality. there are a lot of reasons why individuals engage in different criminal activity. it's a very small percentage of p
i have be asked to testify whether or not psycho paths have affective deficits. absolutely they do. there has been hundreds of years of psychiatric research shows that they do. you have this two prong thing. on the one hand more dangerous if you release them and don't treat them. on the other hand, they're affectively different. there was a very nice article in the "new york times" magazine on mother's day about children who have these emerging traits and how we would develop and...
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Jan 19, 2013
01/13
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eye 139
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real solutions to the debt limit and taxation of illegal drugs, at least marijuana will reduce the deficit, increase revenue, increase jobs. decrease crime in half. host: so what do you think about the strategy from house republicans? what do you think specifically on this as a strategy? caller: i think it's just a big joke. without new revenue. they know. they don't care that we're going down the tubes. they don't care about sese quest ration. now they are talking about the construction industry is going crazy. we need more cheap labor from third world countries. like that's going to help. host: ela is on our democrats line from charlotte, south carolina. you're on. what do you think about this proposal? caller: i think it's crazy. because the president is not going to go for it. he has already said that he wants a clean debt ceiling bill. not three months that we have to go through the same thing again. he wants it for a whole year. so i don't understand why the republicans are doing this. they know they are not going to get it. they are not going to get this, so this is wasting precious
real solutions to the debt limit and taxation of illegal drugs, at least marijuana will reduce the deficit, increase revenue, increase jobs. decrease crime in half. host: so what do you think about the strategy from house republicans? what do you think specifically on this as a strategy? caller: i think it's just a big joke. without new revenue. they know. they don't care that we're going down the tubes. they don't care about sese quest ration. now they are talking about the construction...
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Jan 23, 2013
01/13
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FBC
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eye 88
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you see, the trade deficit. the trade deficit detracts from demand. the budget deficit adds to demand. if you're going to reduce that addition, you have to reduce that subtract sun. melissa: i don't know. seems like we've got to stop spending. scott martin, bring you into the discussion. what do the markets want to hear? >> that is the crazy thing the markets want, spend, spend, spend. if you were an alien looking down on markets and economy and look down on the markets and the debt ceiling you saw every time we extend the debt ceiling the markets pretty much went up which they have done last several times, you would say, okay, this is how we get the stock market to go up. that is crazy thing. melissa: why, why? why does that happen? is it that people trading in the market can't see we will ever have to pay this bill down the road? why does the market rally when this happens? >> i think it is twofold. one of the things that happens, melissa, it absolutely destroys the dollar. if you're an s&p company trying to sell your goods overseas it actually help
you see, the trade deficit. the trade deficit detracts from demand. the budget deficit adds to demand. if you're going to reduce that addition, you have to reduce that subtract sun. melissa: i don't know. seems like we've got to stop spending. scott martin, bring you into the discussion. what do the markets want to hear? >> that is the crazy thing the markets want, spend, spend, spend. if you were an alien looking down on markets and economy and look down on the markets and the debt...
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Jan 18, 2013
01/13
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eye 175
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., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't come here to talk about any of those important subjects today, because as important as they all are today we have a more urgent and immediate call and that is how to deal with the epidemic of gun violence in america. you all know the statistics better than anyone so i'm not going to repeat them. on that score, i owe an incredible debt of gratitude to you at the head table and those of you in the room. i know we don't have unanimity in this ballroom nor do we in any ballroom, but we all acknowledge that we have to do som
., our deficit to g.d.p. down around 3%, which is the basis of all economists left, right and center all agree on the areas we can begin to grow as a country. and as my grandfather used to say with grace of god and goodwill of the neighbors, cooler heads will prevail now between now and the time we deal with the debt ceiling and we may meet the goal which we set out to do, which is to have roughly a $4 trillion cut over 10 years in the long-term deficit and to put us on that path. but i didn't...
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Jan 16, 2013
01/13
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and the deficit and we ought to cut -- we ought to eliminate government programs. certainly there are government programs that are neither efficient, effective or necessary. and those, yes, those should be cut. but when you start talking about infrastructure, this is something that we really must do. it was said that for an expenditure of some $15 billion , new york city could have protected its subway system and the shoreline from the devastation of two major storms. one that occurred a year ago and another one that occurred just 97 days or three months ago, superstorm sandy. so if we get ahead of these disasters and build the necessary protections, for example, in my district, if we build those levees, yes, it will cost money, but in one area it's about $1 billion. very expensive. no doubt about it. but if we do not protect, do not build those levees, the devastation will amount to several times that amount of money. that's precisely what happened in manhattan and in the new york city area. so, again, you spend that money up front, yes, you put people to work, ye
and the deficit and we ought to cut -- we ought to eliminate government programs. certainly there are government programs that are neither efficient, effective or necessary. and those, yes, those should be cut. but when you start talking about infrastructure, this is something that we really must do. it was said that for an expenditure of some $15 billion , new york city could have protected its subway system and the shoreline from the devastation of two major storms. one that occurred a year...
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Jan 18, 2013
01/13
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eye 113
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debt or deficit, we have exceeded now the dealt limit of $16.4 trillion. you can see in the upper left-hand side the debt clock. difficult choices on the debt if the u.s. think it's ceiling. the piece points out by mid february or early march the united states could face an unprecedented default unless it raises the debt ceiling. that was from tim geithner. further into the body of the "new york times" story i want to is share with you some of the numbers "the new york times" points out today. that could happen as early as february 15, if that happens by february 15 or early march, according to the by partisan policy center in analysis of what the government expects is $8 billion in revenue that day but it has $52 billion in spending that day, $6.8 billion in tax refunds, $3.5 in federal salaries, and $1.5 ode to military contractors and other commitments. consider again that day on february 15 f that is the day we reach the limit, the country would not have enough money to pay the bond holders let alone anyone else, more over analysts have raced questions
debt or deficit, we have exceeded now the dealt limit of $16.4 trillion. you can see in the upper left-hand side the debt clock. difficult choices on the debt if the u.s. think it's ceiling. the piece points out by mid february or early march the united states could face an unprecedented default unless it raises the debt ceiling. that was from tim geithner. further into the body of the "new york times" story i want to is share with you some of the numbers "the new york...
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Jan 18, 2013
01/13
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CSPAN2
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eye 116
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and i remembered some of the earlier deficit reduction battles we had. i voted for virtually all of them. and i was thinking what is changed since those debates? and i think there have been two major changes. number one the deficit is clearly much greater, and that's an added dimension. but secondly, the -- when i think of the ways & means committee, what a change there's been in the competition. when i joined ways & means, barbara had just left the ranking member, and he then went the world bank. i worked with bill frenzel on trade. bill archer was handling the tax material, mainly and bill was working on health care. i think a second major change that effects the debate is changing composition of the republican party. i think it has moved very much more to the right describe it from the days when i joined the committee. and i think that makes it very much more difficult to handle the problems that we have before us. so let me just comment briefly on where we are. you heard the president yesterday. we've had spending cuts of a billion and a half or tril
and i remembered some of the earlier deficit reduction battles we had. i voted for virtually all of them. and i was thinking what is changed since those debates? and i think there have been two major changes. number one the deficit is clearly much greater, and that's an added dimension. but secondly, the -- when i think of the ways & means committee, what a change there's been in the competition. when i joined ways & means, barbara had just left the ranking member, and he then went the...
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117
Jan 19, 2013
01/13
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CSPAN
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eye 117
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for decades we have piled for decades we have piled deficit upon deficit, mortgaging our future and our children's future for the temporary convenience of the present. to continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals. you and i, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. why, then, should we think that collectively, as a nation, we're not bound by that same limitation? we must act today in order to preserve tomorrow. and let there be no misunderstanding -- we are going to begin to act, beginning today. [applause] the economic ills we suffer have come upon us over several decades. they will not go away in days, weeks, or months, but they will go away. they will go away because we as americans have the capacity now, as we've had in the past, to do whatever needs to be done to preserve this last and greatest bastion of freedom. in this present crisis, government is not the solution to our problem, government is the problem. [applause] from time to time we've been tempted to belie
for decades we have piled for decades we have piled deficit upon deficit, mortgaging our future and our children's future for the temporary convenience of the present. to continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals. you and i, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. why, then, should we think that collectively, as a nation, we're not bound by that same limitation? we must act...
SFGTV2: San Francisco Government Television
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Jan 22, 2013
01/13
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SFGTV2
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by playing on the republican field of deficits and debts instead of joblessness or say we're all trying to compromise, you make people feel everyone is equally involved in a gridlock that has led to a point where congress has a lower popularity rating than the banks. that is a feat. 9%. it is dropping even though there are good people inside the congress. there is a progressive congress. they put out a people's budget. bernie sanders has exposed the fed giving out trillions of dollars in addition to the tarp bailout. >> barney frank has taken a hike. >> that is worth talking about. you see in this congress michele bachmann and michele bachmann one of these -- wannabe's. there are fights about redistricting. >> use of the one strength the president obama, his rhetorical skill, is not sufficient. >> it has not been used at the scale necessary in this time of crisis. america is in a crossroads. this is a moment comparable to coming out of the great depression. this was a moment coming out of the financial crisis when tectonic shifts are under way in this country. hope is not a policy. poli
by playing on the republican field of deficits and debts instead of joblessness or say we're all trying to compromise, you make people feel everyone is equally involved in a gridlock that has led to a point where congress has a lower popularity rating than the banks. that is a feat. 9%. it is dropping even though there are good people inside the congress. there is a progressive congress. they put out a people's budget. bernie sanders has exposed the fed giving out trillions of dollars in...
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Jan 15, 2013
01/13
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CSPAN2
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eye 59
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additional to 140 in the last two years, and my constituents look at this spending and our trillion dollar deficit, they want to know where all the money goes, not just over a million dollars, and this amendment would take one step to providing transparency and accountability. so i ask this committee add the amendment, and i'd also file two amendments that would have needed waivers. these seek to ensure that local governments are not violating the second amendment right office law abiding citizens. and then number 60 would require certification by the secretary of homeland security that no recipients were receiving funds if they were agent acting actinn contravention to the law preventing gun con confiscation. when guns were improperly confiscated after hurricane katrina, congress passed a law to prevent this from happening in the future. in the state legislature in kansas, i led the effort to pass similar legislation. i have submitted revised amend 68 that would ensure that no funds are used under this bill in violation of the second amendment rights following katrina. my office cleared this lang
additional to 140 in the last two years, and my constituents look at this spending and our trillion dollar deficit, they want to know where all the money goes, not just over a million dollars, and this amendment would take one step to providing transparency and accountability. so i ask this committee add the amendment, and i'd also file two amendments that would have needed waivers. these seek to ensure that local governments are not violating the second amendment right office law abiding...
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170
Jan 22, 2013
01/13
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CSPAN
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eye 170
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we must make the hard choices to reduce the cost of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] for we remember the lessons of our past, when twilight years were spent in poverty and parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the lucky, or happiness for the few. we recognize that no matter how responsibly we live our lives, any one of us at any time may face a job loss, or a sudden illness, or a home swept away in a terrible storm. the commitments we make to each other through medicare and medicaid and social security, these things do not sap our initiative, they strengthen us. [applause] they do not make us a nation of takers; they free us to take the risks that make this country great. [applause] we, the people, still believe that our obligations as americans are not just to ourselves, but to all posterity. we will respond t
we must make the hard choices to reduce the cost of health care and the size of our deficit. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] for we remember the lessons of our past, when twilight years were spent in poverty and parents of a child with a disability had nowhere to turn. we do not believe that in this country freedom is reserved for the lucky, or...
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Jan 19, 2013
01/13
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FOXNEWS
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eye 63
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has run up 4 consecutive trillion-dollar federal budget deficits in his first term. he has an economy that is not being returned to prosperity. 23 million people still unemployed. we have, i think bill. i think if i may. you undersell folks just a little bit in that i think everybody is smart enough to know there is is a problem. i think everybody is pretty much smart enough to know that we have got to come up with a solution. when you have a national media part of this coalition of interest and depen dense on the democratic party, there is no way for them to have validation. there is no way for them to have an aggressive watchdog that would normally, traditionally, historically be attacking the miss adventure of those in power. >> we agree that the media is in the tank. i'm almost stunned that you think, to quote you, everybody understands the issue. i will tell you why, you go right outside the fox news channel building now and you stop people and go what about the federal debt? come on. >> let me put it in some context. there was a time in this country and everybo
has run up 4 consecutive trillion-dollar federal budget deficits in his first term. he has an economy that is not being returned to prosperity. 23 million people still unemployed. we have, i think bill. i think if i may. you undersell folks just a little bit in that i think everybody is smart enough to know there is is a problem. i think everybody is pretty much smart enough to know that we have got to come up with a solution. when you have a national media part of this coalition of interest...
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67
Jan 17, 2013
01/13
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CSPAN2
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eye 67
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impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer retirement than had occurred in 1995. this is a very serious issue. currently the social security retirement is a pay-as-you-go system that provides more annual benefits than the payroll tax collectors. if left alone, this eventually will lead to insolvency particularly with the rapidly increasing number of baby boomers retire in every day as was referred to by maya and louis. there isn't time today nor do i have the proven expertise to suggest specific solutions it's important that the contras and the administration analyze acceptable me
impact of extended deficit financing. the longer term problem is to a very large extent the product of the key entitlement programs that are in a part of part of the nation's safety net for the elderly. slowing the growth of spending in the nation's in title at program can help make these programs secure for current and future workers and we think that's very important. by 2035, there will be only two workers per beneficiary and a typical 65-year-old retiree would have about a 50% longer...
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Jan 20, 2013
01/13
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, deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took -- why he took the actions he took in that very pear rillous time -- perilous time for him politically. but i also explained how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory, after he took that big hit in 2010, he had a theory that he could make the 2012 race a choice not just between him and mitt romney, but a choice between different ideologies, different approaches to government, between different sets of visions and values. and everything he did, um n that time frame he kept trying to tether to this big idea he had about a choice. and when i wrote
, deficit reduction, also the bin laden raid and what happened in egypt and libya. and so i'm looking at how obama made the decisions he made and took -- why he took the actions he took in that very pear rillous time -- perilous time for him politically. but i also explained how this is all done in a way to set up the 2012 campaign that we just went through. he had a theory, after he took that big hit in 2010, he had a theory that he could make the 2012 race a choice not just between him and...
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Jan 21, 2013
01/13
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he applauded on a lot of the lines of the deficit and the mention of newtown and other issues, but notably on immigration reform, he just sort of sat there while other members did applaud. whether or not you can read something into that, i am not sure, but it is definitely an opportunity for reaction on the other side. host: to all of these issues we have been addressing the last hour, i want to look at something your colleague wrote in "the washington post." "if the president can reach a broad deal that settles some of the disputes over entitlement spending and tax code and govgiving the government borrowing authority to last through much of the term, he can use that energy to forge a bipartisan, rise on these other big issues to." guest: that is a huge point. one point that ms. mcconnell, republican leader in the senate, has made over and over again is the reason they are using to get them as leverage is they feel the urgency of the issue, and one of the things he said in the past few weeks was that if obama does come to the table and helps to craft a big deal, both sides can agree to, h
he applauded on a lot of the lines of the deficit and the mention of newtown and other issues, but notably on immigration reform, he just sort of sat there while other members did applaud. whether or not you can read something into that, i am not sure, but it is definitely an opportunity for reaction on the other side. host: to all of these issues we have been addressing the last hour, i want to look at something your colleague wrote in "the washington post." "if the president...
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Jan 21, 2013
01/13
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let's not talk about the deficit. let's talk about gun control. these priorities are skewed. host: that was stated in the bronx, new york. we want to show you a video of harry -- talking about presidential artifacts. >> part of it is just about the enthusiasm. are meant to be days of national celebration and national unity. they are not always that way, but they are souvenirs' that .eople may create in the days of george washington, there were bronze buttons and pendants that people could buy things from --that people could buy. i particularly like this, a glass tray, sold on that day. it is to mimic a card. it has generally 20th, 1961, marking president kennedy costs of moving. moving.dy's the idea that people get license plates -- these are good for a day or a week. you can put them on the -- under cars. you are part of the celebration. go to the parade. this happens to be kennedy in 1961. you can watch the crowd up above for those of us who are a little bit shorter. we see these kinds of continuity, this ongoing, both the material and this expression of exuberance in a lot
let's not talk about the deficit. let's talk about gun control. these priorities are skewed. host: that was stated in the bronx, new york. we want to show you a video of harry -- talking about presidential artifacts. >> part of it is just about the enthusiasm. are meant to be days of national celebration and national unity. they are not always that way, but they are souvenirs' that .eople may create in the days of george washington, there were bronze buttons and pendants that people could...
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Jan 17, 2013
01/13
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did you sense there was a deficit of trust between, say, you and the president early on? in afghanistan? >> if you think of any complex endeavor that you're a part of, and you're going to do it with a team of people, if you don't trust them at the outset, you're going to have to develop trust very quickly. >> and he never chose you in this case. do you think that's the issue? >> i think he was involved. i was chosen by secretary gates, and clearly approved by the president. so i wases his commander. i replaced general mckiran in june of 2010. i think, though, there are a number of things. i think people underestimate the difference between the cultures of the civilian culture and military culture. it's not an opposition. they are just different. so they use different words, different backgrounds. they have a different understanding sometimes of history. plus a new administration comes in, any new administration, doesn't matter which party. and they've got to form a team and they're trying to internally form a team and also trying to form a team with people like dod. i wan
did you sense there was a deficit of trust between, say, you and the president early on? in afghanistan? >> if you think of any complex endeavor that you're a part of, and you're going to do it with a team of people, if you don't trust them at the outset, you're going to have to develop trust very quickly. >> and he never chose you in this case. do you think that's the issue? >> i think he was involved. i was chosen by secretary gates, and clearly approved by the president. so...
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Jan 21, 2013
01/13
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you're going to need more revenues as well as more cuts to get the deficit down. and i've talked to leader reid. i've talked to budget chair murray. we're going to do a budget this year. and it's going to have revenues in it. and our republican colleagues better get used to that fact. >> senator cruz? >> david, i'll mention there was an area of substantial agreement with what chuck just said. he said we should never, ever compromise the full faith and credit of the united states. i agree. and in fact, there is a bill that i am co-sponsoring, the full faith and credit act, which provides that, regardless of what happens to the debt ceiling, the united states will always, always, always meet its debt. we will never default on its debt. that was introduced in 2010. it didn't pass because harry reid and president obama didn't want it to pass. they wanted to raise the specter of a default to use. so, chuck, you and i could make news right now on national television, would you agree to support the full faith and credit act and take the possibility of a default off the t
you're going to need more revenues as well as more cuts to get the deficit down. and i've talked to leader reid. i've talked to budget chair murray. we're going to do a budget this year. and it's going to have revenues in it. and our republican colleagues better get used to that fact. >> senator cruz? >> david, i'll mention there was an area of substantial agreement with what chuck just said. he said we should never, ever compromise the full faith and credit of the united states. i...
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Jan 15, 2013
01/13
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onto another big one, negotiating with unions has made big headlines in the past year's budget deficit exploding, as you know, but one story in the "wall street jouournal" really caughty attention because the strong-arm tactics being used. just one example, the police union in california began a harassment campaign against the city manager. after he announced the city may have to lay off 16% of the municipal workforce. the union bought the house next door to him to make his life miserable and they invested in billboards welcoming visitors famous as the second most dangerous city in california and it put his phone number at the bottom. keep in mind this is if you ended up going bankrupt because of unsustainable costs. this is all too familiar to the costa mesa mayor who joins me now. they moved in next to the city manager and they unleash a flurry of construction making all kinds of racket and bullying him at home. does this shock you are similar to something you went through as well? >> five years ago it would shock me. what you find out is these unions in a lot of public safety unions
onto another big one, negotiating with unions has made big headlines in the past year's budget deficit exploding, as you know, but one story in the "wall street jouournal" really caughty attention because the strong-arm tactics being used. just one example, the police union in california began a harassment campaign against the city manager. after he announced the city may have to lay off 16% of the municipal workforce. the union bought the house next door to him to make his life...
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Jan 22, 2013
01/13
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the ryan plan laid out how to deal with our biggest problems, debt and deficit and ongoing spending, if we don't reform, we'll end up bankrupting this country and it's unfair to the generation not to stop this. it's time for the senate to step up and i've done my town meetings, sean, people say, well you who did they get away with that, what's the penalty? if it were me in my job i'd get fire. do they get their pay docked? i think the notion of no budget, no pay makes a lot of sense and people want to weigh in go to nrcc.org website and make their views heard. >> sean: and by the way, we're watching, the first lady and president obama and the second ball of the evening and a few less balls than in 2009 and give the president a lot of credit. i did not dance at my own wedding i can't dance, i don't like to dance and they look nice together. all right. why are you laughing at that, congressman? no reason to mock-- >> i'm sorry, i'm just picturing you dancing to jennifer hudson. >> sean: i love jennifer hudson. i would love to be at the party. everybody is taping, it looks like a lot of
the ryan plan laid out how to deal with our biggest problems, debt and deficit and ongoing spending, if we don't reform, we'll end up bankrupting this country and it's unfair to the generation not to stop this. it's time for the senate to step up and i've done my town meetings, sean, people say, well you who did they get away with that, what's the penalty? if it were me in my job i'd get fire. do they get their pay docked? i think the notion of no budget, no pay makes a lot of sense and people...
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Jan 16, 2013
01/13
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we didn't have a deficit and debt crisis the way we do right now. let's be fair about the facts. we are in a debt crisis. however, when something like this happens, it's an exception to the rule. these people are hurting. they need the help of the federal government, and that's what we're going to deliver today. the bottom line is we're going to move forward and get this done. >> you know, i have been blessed to get to know some of the really good people up in your borough like teddy atlas and your borough president. they're doing great work. tell us how bad it is. we're looking at pictures of the people under water during the flood. have just been devastated. i saw some of that stuff on your own island of staten island a couple weeks ago, it was really rough. >> it's horrendous. this is a war zone. let me be clear, don't forget about -- you see homes crushed. you see people's personal belongings wiped out to sea, but there's also emotional scars that you cannot see. just this past weekend i had a mother tell me her children are deathly afraid when it rains because they think the
we didn't have a deficit and debt crisis the way we do right now. let's be fair about the facts. we are in a debt crisis. however, when something like this happens, it's an exception to the rule. these people are hurting. they need the help of the federal government, and that's what we're going to deliver today. the bottom line is we're going to move forward and get this done. >> you know, i have been blessed to get to know some of the really good people up in your borough like teddy...
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Jan 23, 2013
01/13
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CNBC
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she goes on to say we've taken good steps around the debts but the deficit has to be dealt with and it needs to be dealt with in a matter of months. oh golly. down goes dupont in pre-market trading. within a few minutes she tells me that all anyone is focused on is the country is doing pretty darned good especially in latin america. with that commodity in question, a stock that had been sinking now reverses and ends up flying up as it should have won the earnings were first reported. one of the best performing stocks in the dow. again, a huge move for this one. believe me, if these were just isolated examples i would be fine with them, but they are par for the course and there are so many better like this, you can see what i regard all this trading off the headlines, without people really looking, to be fraught with calamity and chances for you to lose money with almost every twist and turn. i sure liked the look of ibm and google earnings and i love the way the stock traded after the close, but until i hear the conference calls myself i am not going to pronounce them as terrific as th
she goes on to say we've taken good steps around the debts but the deficit has to be dealt with and it needs to be dealt with in a matter of months. oh golly. down goes dupont in pre-market trading. within a few minutes she tells me that all anyone is focused on is the country is doing pretty darned good especially in latin america. with that commodity in question, a stock that had been sinking now reverses and ends up flying up as it should have won the earnings were first reported. one of the...
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Jan 22, 2013
01/13
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didn't once mention debt and deficits. we saw yesterday the president had a sum total of four sentences on debt and deficits as he launches into his second term. it just seems like the president doesn't care about cutting spending. bill: but would suggest, then, steven, he doesn't think it is a problem and that's what you write this morning in "the weekly standard." but again, back to the question, when you look at the way the sequester vote was played, that was pushed off until after the election. you essentially made a wager if you win the election you can forgo all these difficult decisions. >> right. bill: so now, if you continue to drag it out, and you get a midterm in two years, and if you win, you can run the field. >> you can run the field but what does that mean in terms of spending? the only places the president indicated willingness to do spending is defense cuts. he signed on to some cuts reached by members of congress in consultation with the white house but they're short-term cuts to discretionary programs. y
didn't once mention debt and deficits. we saw yesterday the president had a sum total of four sentences on debt and deficits as he launches into his second term. it just seems like the president doesn't care about cutting spending. bill: but would suggest, then, steven, he doesn't think it is a problem and that's what you write this morning in "the weekly standard." but again, back to the question, when you look at the way the sequester vote was played, that was pushed off until after...
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Jan 22, 2013
01/13
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one would think maybe that means that the deficit is going down. but unfortunately, the budgets proposed by president obama raise taxes, raise spending and increase debt. that suggests to me that increasing taxes is never the solution that results in less spending and less deficits, but just increase taxes and more spending. history shows us that every time money is raised in washington, d.c., more money is spent by washington, d.c. the revenues we need to balance our books are not increases in taxes but revenues coming from a strong and growing economy. to turn our economy around and put people back to work, congress and the administration should be implementing policies that encourage job creation, rein in government regulations, replace our convoluted tax code with one that is fair, simple and certain, open foreign markets to american manufactured goods and agricultural products and develop a comprehensive energy policy. we are not immune from the laws of economics that face every nation. the congressional budget office estimates that governmen
one would think maybe that means that the deficit is going down. but unfortunately, the budgets proposed by president obama raise taxes, raise spending and increase debt. that suggests to me that increasing taxes is never the solution that results in less spending and less deficits, but just increase taxes and more spending. history shows us that every time money is raised in washington, d.c., more money is spent by washington, d.c. the revenues we need to balance our books are not increases...
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Jan 16, 2013
01/13
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we have a training deficit in this country. we need to combine training programs and do a better job. are we going to hurt that effort? that's what's at stake here when the republicans say, just cut regardless. they had no reason to remember yesterday to cut all discretionary notary public defense discretionary programs, and i think sadly a hundred and some republicans, i think, 50 voted for willie-nilly across the board. doesn't matter what it is. that's not the way we proceed. >> host: was this the amendment to the sandy relief bill? >> guest: it was. >> host: and it failed, 70 republicans joined about 188 democrats to beat back that amendment put forth. on the tax side of the ledger, deductions and loopholes is what folks are talking about. when you say "balanced approach qtle, spending cuts, and deductions and loopholes and things like that. what are the big ones that would bring in the most revenue? >> guest: well, we've talked about the itemized deductions and they include mortgage interests, charitable contributions, ect
we have a training deficit in this country. we need to combine training programs and do a better job. are we going to hurt that effort? that's what's at stake here when the republicans say, just cut regardless. they had no reason to remember yesterday to cut all discretionary notary public defense discretionary programs, and i think sadly a hundred and some republicans, i think, 50 voted for willie-nilly across the board. doesn't matter what it is. that's not the way we proceed. >> host:...
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Jan 17, 2013
01/13
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by $4 trillion over the next decade which would stabilize our debt and our deficit in a sustainable way for the next day-to-day. jon: so what about that statement from the president, true or false? a fact check on that and a bunch of others. we'll have the answers for you coming up. jon: right now lawmakers are working on a strategy to try to keep the government running. they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american action forum. just as a general rule, steven, when you heard the president speaking in that news conference, was he generally being honest with the american people about the state of our finances? >> well, i would say there wer
by $4 trillion over the next decade which would stabilize our debt and our deficit in a sustainable way for the next day-to-day. jon: so what about that statement from the president, true or false? a fact check on that and a bunch of others. we'll have the answers for you coming up. jon: right now lawmakers are working on a strategy to try to keep the government running. they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts...
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Jan 16, 2013
01/13
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the problem is if you'd inadvertently did not disclose information, you are put out a credibility deficit with the public, and sometimes it is hard to get out of that, and it is difficult for or organizations to think about releasing the information before it is out for. -- asked for. i have been involved in several situations where the information was available and understandable. it mitigated some concerns. it was difficult to make that transparent, and catching up with that is really difficult. one reason for the impact was the lack of information as a baseline for understanding there had been a change. as a context for moving beyond the research done, what do you think the larger research agenda ought to be about? >> the hydrocarbons in the continental shelf and inland areas are pretty well known. it is the deep sea we did not have information for. i think the deep sea ecosystem is an area we need to emphasize, and some of the longer living organisms such as marine mammals. one of the issues is the effect of multiple stressors. we have some smart jury is that were heavily oiled, and s
the problem is if you'd inadvertently did not disclose information, you are put out a credibility deficit with the public, and sometimes it is hard to get out of that, and it is difficult for or organizations to think about releasing the information before it is out for. -- asked for. i have been involved in several situations where the information was available and understandable. it mitigated some concerns. it was difficult to make that transparent, and catching up with that is really...